Blackstone Mortgage Trust (NYSE:BXMT) Price Target Lowered to $22.00 at BTIG Research

Blackstone Mortgage Trust (NYSE:BXMT) had its target price decreased by BTIG Research from $24.00 to $22.00 in a report published on Wednesday morning, Benzinga reports. BTIG Research currently has a buy rating on the real estate investment trust’s stock.

A number of other analysts also recently issued reports on the stock. UBS Group dropped their price objective on shares of Blackstone Mortgage Trust from $21.50 to $21.00 and set a neutral rating for the company in a report on Wednesday, March 20th. JPMorgan Chase & Co. lowered their price target on shares of Blackstone Mortgage Trust from $19.00 to $18.50 and set a neutral rating for the company in a research note on Wednesday, April 10th. Bank of America downgraded shares of Blackstone Mortgage Trust from a buy rating to a neutral rating and lowered their price target for the stock from $22.00 to $21.00 in a research note on Monday, March 4th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Blackstone Mortgage Trust from $21.00 to $20.50 and set a market perform rating for the company in a research note on Wednesday, April 10th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and an average price target of $20.83.

Blackstone Mortgage Trust Stock Performance

NYSE BXMT opened at $18.23 on Wednesday. Blackstone Mortgage Trust has a 52-week low of $16.83 and a 52-week high of $23.82. The company has a market capitalization of $3.17 billion, a P/E ratio of 12.93 and a beta of 1.42. The company has a fifty day moving average of $19.58 and a 200-day moving average of $20.70.

Blackstone Mortgage Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 13.60%. The ex-dividend date was Wednesday, March 27th. Blackstone Mortgage Trust’s payout ratio is 175.89%.

Insider Buying and Selling at Blackstone Mortgage Trust

In other Blackstone Mortgage Trust news, CEO Katharine A. Keenan sold 2,275 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $20.25, for a total value of $46,068.75. Following the transaction, the chief executive officer now owns 192,023 shares in the company, valued at $3,888,465.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Katharine A. Keenan sold 2,275 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $20.25, for a total transaction of $46,068.75. Following the transaction, the chief executive officer now owns 192,023 shares in the company, valued at $3,888,465.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Katharine A. Keenan sold 2,274 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $20.42, for a total transaction of $46,435.08. Following the transaction, the chief executive officer now owns 194,298 shares in the company, valued at approximately $3,967,565.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,540 shares of company stock worth $112,642. 1.02% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Blackstone Mortgage Trust

Several hedge funds and other institutional investors have recently modified their holdings of BXMT. Central Bank & Trust Co. bought a new stake in Blackstone Mortgage Trust during the fourth quarter worth about $25,000. Versant Capital Management Inc boosted its stake in Blackstone Mortgage Trust by 447.5% during the third quarter. Versant Capital Management Inc now owns 1,336 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 1,092 shares in the last quarter. Coppell Advisory Solutions LLC bought a new stake in Blackstone Mortgage Trust during the second quarter worth about $29,000. Chilton Capital Management LLC bought a new stake in Blackstone Mortgage Trust during the first quarter worth about $36,000. Finally, Householder Group Estate & Retirement Specialist LLC bought a new stake in Blackstone Mortgage Trust during the third quarter worth about $37,000. Hedge funds and other institutional investors own 64.15% of the company’s stock.

Blackstone Mortgage Trust Company Profile

Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by commercial properties in North America, Europe, and Australia. The company originates and acquires senior floating rate mortgage loans that are secured by a first-priority mortgage on commercial real estate assets.